Oil Prices Rise to Highest Level in a Month

“Oil prices jumped to their highest level in a month on Friday as renewed hostilities between the United States and Iran have caused shipping traffic in the Strait of Hormuz to slow to nearly a halt,” the New York Times reports.

“The price of Brent crude, the international benchmark, climbed about 4 percent, to about $88 a barrel, the highest since early June but still below its peak in April, when oil prices soared above $120.”